Looking at the developments in deposit interest rates over the past two weeks, we can see strong changes in deposit interest rates with terms of less than 6 months.

Unlike interest rates for deposits of 6 months or more, which are applied according to market supply and demand, according to State Bank regulations, the ceiling interest rate applied to deposits with terms of less than 6 months is 4.75%/year.

Some banks have pushed savings interest rates for these terms up close to the ceiling interest rate. Of which, Eximbank listed an interest rate of 4.7%/year for online deposits with a term of 4 months. This is the highest savings interest rate on the market today for deposits with terms of less than 6 months.

Vietnam Modern Commercial Joint Stock Bank ( MBV ) is maintaining this interest rate for online deposits with a term of 4-5 months after recently adjusting the mobilization interest rate up.

Specifically, MBV increased the interest rate for 1-2 month term deposits from 4.1%/year to 4.3-4.4%/year; the interest rate for 3 month term deposits from 4.4%/year to 4.6%/year. Notably, the interest rate for 4-5 month term deposits increased sharply from 4.4%/year to 4.7%/year.

National Citizen Commercial Joint Stock Bank ( NCB ) has also recently increased the interest rate for deposits with terms of less than 6 months by 0.1-0.2%/year. Currently, the online deposit interest rate for terms of 1-2 months at NCB is 4.1% and 4.2%/year, respectively; the interest rate for terms of 3 - 4 - 5 months is 4.3% - 4.4% - 4.5%/year, respectively.

Bac A Bank has also recently increased the interest rate for deposits with terms of less than 6 months by 0.2% per year. According to the interest rate table for individual customers depositing up to 1 billion VND, the interest rate for deposits with terms of 1-2 months is 3.9% per year; for terms of 3 - 4 - 5 months, the interest rate is 4.2% - 4.3% - 4.4% per year, respectively.

The highest interest rate for these terms is applied by Bac A Bank to deposit accounts over 1 billion VND. Accordingly, the interest rate is up to 4.6%/year, applied to 5-month term deposits. Next, the interest rate for 4-month term is 4.5%/year, 3-month term is 4.4%/year, 1-2 month term is 4.1%/year.

CBBank is also the new bank that has strongly increased savings interest rates for terms under 6 months with a uniform increase of 0.35%/year.

According to the latest online savings interest rate table, CBBank applies an interest rate of 4.15%/year for 1-2 month term deposits and 4.35%/year for 3-5 month term deposits.

On the contrary, interest rates on deposits with terms of less than 6 months at BVBank has reduced its interest rate by 0.3% per year. Currently, the 3-month term bank interest rate is 4.05% per year, while the 4-month term bank interest rate is lower, currently listed at 3.95% per year.

The highest interest rate for deposits with a term of less than 6 months at BVBank is 4.1%/year, listed for deposits with a term of 5 months.

ABBank also recently reduced the interest rate for 3-5 month term deposits from 4.45%/year to 3.8%/year. Nam A Bank also reduced the interest rate for 2-5 month term deposits from 4.5%/year to 4.3%/year.

In addition to the above banks, a series of banks are listing interest rates from 4% for deposits with terms of less than 6 months.

Of which, Eximbank and MBV hold the position of banks paying the highest interest rates, up to 4.7%/year for 5-month term deposits. In addition, the interest rate for 3-4 month term at Eximbank has reached 4-4.3%/year.

Indovina Bank (IBV) also pays interest rates to depositors up to 4%/year for 1-month term, 4.1%/year for 2-month term and 4.35%/year for 3-month term.

BaoVietBank listed online deposit interest rates for 3 - 4 - 5 month terms at 4.35% - 4.4% - and 4.5%/year, respectively.

Dong A Bank still maintains interest rates of 4.1%/year for 1-2 month terms, and 4.3%/year for 3-5 month terms.

At Viet A Bank, the interest rate for 3-month term is 4%/year, and for 4-5-month term is 4.1%/year.

MSB is the only bank that applies an interest rate for deposit terms from 1-5 months, up to 4.1%/year for online savings.

Meanwhile, the 2-month term interest rate at GPBank is 4%/year; the interest rates for 3 - 4 - 5 month terms are 4.02% - 4.04% - 4.05%/year respectively.

The highest interest rate for deposits under 6 months at VPBank (applied to deposit accounts from 50 billion VND) is: 1 month term 4%/year, 2-5 month term 4.2%/year.

At VietBank, the interest rate for 3-4 month term is 4.1%/year, 5 month term is 4%/year. This is also the interest rate applied by MB for 3-5 month term deposits.

INTEREST RATE TABLE FOR 1-5 MONTHS TERM AT BANKS ON JANUARY 7, 2024 (%/YEAR)
BANK 1 MONTH 2 MONTHS 3 MONTHS 4 MONTHS 5 MONTHS
MBV 4.1 4.4 4.6 4.7 4.7
OCB 4.5 4.65 4.65 4.65 4.65
BAC A BANK 4.1 4.1 4.4 4.5 4.6
NAM A BANK 4.3 4.5 4.5 4.5 4.5
NCB 4.1 4.2 4.3 4.4 4.5
BAOVIETBANK 3.3 3.6 4.35 4.4 4.5
CBBANK 4.15 4.15 4.35 4.35 4.35
DONG A BANK 4.1 4.1 4.3 4.3 4.3
VPBANK 4 4.2 4.2 4.2 4.2
MSB 4.1 4.1 4.1 4.1 4.1
BVBANK 3.9 3.85 4.05 3.95 4.1
VIET A BANK 3.7 3.9 4 4.1 4.1
GPBANK 3.5 4 4.02 4.04 4.05
VIETBANK 3.9 3.9 4.1 4.1 4.1
MB 3.7 3.7 4 4 4
HDBANK 3.85 3.85 3.95 3.95 3.95
TECHCOMBANK 3.75 3.75 3.95 3.95 3.95
EXIMBANK 3.9 4 4.3 4.7 3.9
VIB 3.8 3.9 3.9 3.9 3.9
LPBANK 3.6 3.7 3.9 3.9 3.9
SHB 3.5 3.5 3.8 3.8 3.9
PGBANK 3.4 3.5 3.8 3.8 3.8
PVCOMBANK 3.3 3.4 3.6 3.7 3.8
ABBANK 3.2 3.5 3.8 3.8 3.8
SAIGONBANK 3.3 3.3 3.6 3.6 3.6
SACOMBANK 3.3 3.5 3.6 3.6 3.6
SEABANK 2.95 2.95 3.45 3.45 3.45
AGRIBANK 2.4 2.4 3 3 3
VIETINBANK 2 2 2.3 2.3 2.3
BIDV 2 2 2.3 2.3 2.3
VIETCOMBANK 1.6 1.6 1.9 1.9 1.9
IVB 4 4.1 4.35
KIENLONGBANK 3.9 3.9 3.9
TPBANK 3.7 4
ACB 3.3 3.4 3.7
According to statistics from the beginning of January 2025 to now, 4 banks have increased their deposit interest rates, including: Agribank, Bac A Bank, NCB, MBV. However, NCB and Agribank also simultaneously reduced interest rates for terms of 12-36 months. Also reducing interest rates are ABBank, SeABank and Nam A Bank.